We've reviewed many investing and personal finance services. We want to help you make the best decision of which service best suits your needs.
This comparison we review Charles Schwab Intelligent Portfolios and SoFi Wealth Management.
From our research, annual fees, minimum deposit, and 401(k) support the most important features which choosing a robo advisor. Let's look at how Charles Schwab Intelligent Portfolios and SoFi Wealth Management stack up against each other on these features.
To start, we will compare the fees for trading with both robo advisors. Charles Schwab Intelligent Portfolios has annual fees at 0% fee per year. In contrast, SoFi Wealth Management has annual fees of 0%.
When it comes to fees, both Charles Schwab Intelligent Portfolios and SoFi Wealth Management are equal in annual fees.
Let's consider the minimum investment that's required to use both Charles Schwab Intelligent Portfolios and SoFi Wealth Management.
At $100, SoFi Wealth Management requires a smaller minimum deposit.
Unfortunately, neither service offers assistance with your 401(k) and you will have to find another service if this is a requirement for you.
Overall, Charles Schwab Intelligent Portfolios rates 8.5 out of 10, while SoFi Wealth Management ranks 8.5 out of 10. For more information on either, you can read our full reviews on Charles Schwab Intelligent Portfolios and SoFi Wealth Management.
|Review||Charles Schwab Intelligent Portfolios Review||SoFi Wealth Management Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||None||Free under $10k and SoFi Borrowers; 0.25%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, Trusts||Taxable, Joint, Roth IRA, Traditional IRA, SEP IRA|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||Yes — All Taxable Accounts||No|
|Retirement Planning Tools||No||Yes|
|Automatic Deposits||Monthly, Bimonthly and Quarterly||Weekly, Biweekly, Monthly and Bimonthly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing||No||No|
|Invests in Commodities||Yes||Yes|
|Invests in Real Estate||Yes||Yes|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: 24/7; Live Chat: 24/7; Email||Phone: M-Th 7A-5P, F 7A-4P PT; Live Chat: M-Th 7A-5P, F 7A-4P PT; Email|
|Assets Under Management||$27B||$12M|
|Number of Accounts||N/A||2K|
|Sign Up||Sign Up|
About Charles Schwab Intelligent Portfolios
Schwab Intelligent Portfolios is Charles Schwab’s robo-investing service. Like other robo advisors, it provides professional investment management for your portfolio for a minimum investment ($5,000). But what makes Schwab Intelligent Portfolios unique in the industry — and particularly among large brokerage firms — is that Schwab offers the service without charging fees. And with Schwab's family of financial services, it's a one-stop shop: You can have some of your portfolio professionally managed through Schwab Intelligent Portfolios while being free to take advantage of all of the other benefits that Schwab offers.
About SoFi Wealth Management
SoFi Wealth Management is an investment management service that combines robo investing with access to a human financial advisor. Accounts are free for SoFi borrowers and those with a portfolio below $10,000. SoFi Wealth Management focuses only on index fund investments to meet your financial goals, and you won't find tax loss harvesting.